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Hyundai Rotem inks $220 million train contract in Canada

Hyundai Rotem CEO Lee Yong-bae (L) poses with Sarah Nichols, deputy city manager of Edmonton, Canada, after signing a $220 million rail vehicle supply contract in Edmonton on Tuesday. Photo courtesy of Hyundai Rotem

SEOUL, Feb. 4 (UPI) — South Korea’s Hyundai Rotem said Wednesday that it has signed a $220 million contract to supply high-floor light rail vehicles to Edmonton, Canada.

Under the agreement, Hyundai Rotem is scheduled to deliver 32 trainsets, each composed of three cars, to operate through the city center at a maximum speed of 50 mph.

The company noted that the fleet would replace aging rolling stock, with safety and passenger comfort as top priorities.

Because of the city’s harsh winter climate, the trains will feature customized designs that can withstand extreme cold and heavy snowfall.

Hyundai Rotem previossly has sign train deals in Canada.

In 2021, the Hyundai Motor Group subsidiary secured a separate contract to provide trams for Edmonton. Deliveries of those vehicles started last August, according to the company.

In 2005, it also struck an agreement to supply automated people movers for Vancouver International Airport as part of preparations for the 2010 Vancouver Winter Olympic Games.

“We will keep strengthening our relationship to contribute to Canada’s efforts to build environmentally friendly rail infrastructure,” Hyundai Rotem said in a statement. “The country is speeding up the replacement of diesel-powered rail vehicles with electric and hydrogen hybrid trains.”

In addition to rail systems, Hyundai Rotem also operates in the defense sector. It is best known for producing the K2 main battle tank for the South Korean military and overseas customers.

Over the past few years, the defense giant exported 180 K2 tanks to Poland. Last year, it finalized a second major contract to ship another 180 tanks to the European country in a deal valued at about $6.5 billion.

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‘Black and Jewish America’ review: Illuminating history of intersection

You may have read recently how minions of the Trump administration removed an exhibit about slavery from the President’s House in Philadelphia (where George Washington lived, with slaves) as part of its ongoing sop to MAGA sensitivities and campaign to erase history in favor of a fairy tale in which the worst thing Washington ever did was chop down a cherry tree.

The study of history is by nature messy, replete with conflicting interpretations and incomplete puzzles, but it’s what you need to know in order not to repeat it. PBS, lately defunded by conservatives but not disassembled, is among the institutions working to bring it to the people — indeed, the only television outlet seriously devoted to it. (History Channel is just a name.) Premiering Tuesday and continuing weekly is the four-part series “Black and Jewish America: An Interwoven History,” presented by Henry Louis Gates Jr., at the start of what happens to be Black History Month.

Gates, who also hosts the PBS genealogy series “Finding Your Roots,” has presented such documentaries as “Africa’s Great Civilizations” and “Great Migrations: A People on the Move,” has made cameo appearances in HBO’s “Watchmen” series and “The Simpsons.” He teaches at Harvard and is a well-known public figure — a history communicator, scholar and storyteller and a minor TV star the world also knows as “Skip.” Even-tempered and even-handed, he’s a good guide through the minefields of racial history — he keeps you from blowing up. You might find yourself angry at the material, but not with Gates.

“Under the floorboards of Western culture run two streams, continuously,” he says. “One is antisemitism, one is anti-Black racism,” whose purpose here is to explore “the areas of overlap.” They aren’t the only victims of bigotry in American history and modern America; Italians and Irish immigrants had their turn, too. White supremacy, which is very much alive in the land — turn on the news — disdains every people of color. But as people who shared the experience of being “mocked and feared, blamed and banished, envied and imitated,” often allied, sometimes antagonists, theirs is a special case.

Gates has assembled a stimulating, illuminating, maddening, saddening, but often inspiring, story of their relations with the world and one another. (Here and there he reaches a little outside his theme.) At 75, he’s lived through a good slice of the history illuminated here, including “our brief golden age” of the 1960s Civil Rights Movement, and though he structures his series as a pendulum swinging between worse and better news, he scrupulously bookends it in a hopeful mood, with a Seder to start and a discussion with students to end. His insistence that no one is safe until everyone is safe, can seem to portend a future in which no one will ever be safe, though as a teacher I assume he’s more sanguine. His manner, at least, is encouraging.

The Seder, which begins with a singing of “Go Down Moses (Let My People Go),” gathers a tableful of Black, white and biracial Jews — each distinguished enough to have their own Wikipedia pages — in a roundtable discussion. Participants include New Yorker editor David Remnick, author Jamaica Kincaid, journalist Esther Fein, rabbi Shais Rishon, Angela Buchdahl (the first East Asian American to be ordained as a rabbi); and culinary historian Michael Twitty, who provides the doubly meal — kosher salt collard greens, West African brisket and potato kugel with sweet and white potatoes and Creole spice.

Though both Jews and Black people faced (and face) discrimination, their American journeys were launched, says Gates, “on different trajectories,” one group chased from nominally Christian countries, the subject of durable medieval superstitions, the other dragged from their homes. Though the mass of Jewish migration, escaping Russian pogroms and Nazi Germany in succeeding waves, occurred in the late 19th and early 20th centuries, some arrived before the revolution; but the Constitution, which enshrined religious freedom, granted them legal rights. (This presumably did not help the Jews of African descent Gates says were present here early on.) Black people, kidnapped and enslaved, had none, and as freedom was gained, new laws were written to hold them in place.

Gates posits a sympathy between immigrant and first- and second-generation Jewish Americans in the 20th century and disadvantaged Black people, based on a common experience of oppression; Jewish newspapers used the word “pogrom” to describe violence against Black people in the South. And Jews, many raised with a sense of social justice, were disproportionately represented among white activists in the Civil Rights Movement. This would change: Where Martin Luther King declared “I’m more convinced than ever before that our destiny is tied up with the destiny of our Jewish brothers and vice versa, and we must work together,” later Black activists, like Stokely Carmichael preferred to go it alone, promoting self-determination and even separation.

Still, many of the stories here are based on Black and Jewish friendships. We learn of W. E. B. Du Bois and Joel Spingarn, who sat together on the board of the NAACP and to whom Du Bois dedicated his 1940 autobiography “Dusk of Dawn.” Of Tuskegee Institute founder Booker T. Washington and philanthropist Julius Rosenwald, a president of Sears, Roebuck and Co., who built schools — more than 5,000 nationally, eventually — for systemically disadvantaged Black students. (Graduates included Maya Angelou and John Lewis.) Of Chicago rabbi Abraham Heschel, bringing 15 other white rabbis down to Selma, Ala., in 1964 at the request of King, where their arrest made headlines — which translated to political pressure.

In music, we meet Louis Armstrong, who as a boy worked and stayed with a Jewish family, and wore a Star of David, and his manager Joe Glaser. We’re told the story of Billie Holiday‘s lynching ballad “Strange Fruit,” written by Abel Meeropol (under his pseudonym Lewis Allan), recorded by Milt Gabler for his Commodore label and performed regularly by Holiday at Barney Josephson’s Cafe Society, New York’s first truly integrated nightclub. And we hear Paul Robeson, daring to sing in Yiddish in a concert in Moscow, in support of Itzik Feffer, a Jewish poet imprisoned (and later murdered) by the Soviets.

As a social and political history covering two intersecting storylines for more than the length of the nation, it’s packed with incident and facts — the Klan resurgent after World War I (six million members, it says here); the 1936 Berlin Olympics, where Jesse Owens triumphed and the U.S. committee pulled two Jewish sprinters from competition; racist Nazi policies, borrowed from American Jim Crow, and the Holocaust. Also the domestic destabilizing effects of wars in the Middle East. Jews and Black people will find themselves on the opposite sides of some questions.

Even at four hours, it’s a survey course, streamlined but not simplistic, and as such it will fly through some points and elide others; there are whole volumes dedicated elsewhere to what constitutes a single sentence here, and libraries dedicated to some of these figures. (Why not read some?) The view is not singular, and as such, there’ll be something for everyone to question, especially as Jews and Black people are often described as a community, when neither is heterogeneous. (Jews don’t even agree on what makes a Jew.)

But whatever goes back and forth between then, the world has its own ideas. “People who hate Jews,” says Gates, “uncannily hate Black people too. Because when the stuff hits the fan, they’re coming after both of us.”

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Remains of seven Jeju Massacre victims identified, returned to families after decades

1 of 2 | A bereaved family member places a name tag on the remains of a family member who was killed during the Jeju Massacre. Photo courtesy of Jeju Provincial Office

JEJU ISLAND, South Korea, Feb. 3 (UPI) — Seven sets of remains belonging to victims of an early Cold War massacre were returned to their families on South Korea’s resort island of Jeju on Tuesday, more than seven decades after they disappeared amid the government’s bloody crackdown on a communist revolt.

The remains of the seven Jeju Massacre victims arrived at Jeju International Airport from Gimpo at about 2 p.m. local time Tuesday, where they were received by Jeju Gov. Oh Young-hoon, heads of various Jeju Massacre-related organizations and representatives of the bereaved families.

“I pray for the repose of the seven victims who had to lie without names for so many years, and I offer my words of comfort to the families who endured time without knowing the fate of their loved ones,” Oh said in his memorial address.

An estimated 30,000 islanders were killed between 1947 and 1954 during South Korea’s bloody anti-communist eradication campaign that literally decimated the island’s population of 300,000 and razed hundreds of villages.

Thousands of people went missing during the massacre, symbolized by the Cemetery of the Missing within the Jeju 4.3 Peace Park, just south of Jeju City, where nearly 4,000 tombstones are etched with the names of islanders who disappeared during the seven-year period and are presumed dead.

Hundreds were executed and buried en masse at what is now known as Jeju International Airport following trumped-up court-martial trials, while more than 2,000 disappeared into the mainland prison system.

Since the mid-2000s, the Jeju government has spearheaded a program to find the bodies of those who went missing and identify them.

A total of 426 sets of remains have been exhumed, 387 from excavation sites at the Jeju International Airport, with the remainder found elsewhere on the island and on the mainland.

Three of the victims have been named as Kim Sa-rim, Yang Dal-hyo and Kang Du-nam, who were identified from remains excavated at the Golryeonggol, Daejeon, site, where roughly 1,400 sets of remains of civilians massacred during the Korean War have been recovered overall.

The remains of Im Tae-hoon and Song Du-seon were excavated from the Gyeongsan Cobalt Mine, where prisoners were executed when the Korean War began, marking the first time remains excavated at the Cobalt Mine have been identified.

Only one other body excavated from the Daejeon site has been confirmed as a victim of the Jeju Massacre — Kim Han-hong, who was returned to the island in 2023.

The final two sets of remains, excavated from Jeju International Airport, belonged to Song Tae-woo and Kang In-gyeong.

After arriving on Jeju, the remains were transported to the Jeju 4.3 Peace Park for an event to return them to the island, commemorate them and console their bereaved families, according to the Jeju provincial government. Some 200 people were in attendance.

“We have finally found our family member who was sacrificed without any crime,” Kang Jun-ho, the grandson of the late Song Du-seon, said.

“It is very late, but I am thankful that he has regained his name.”

In Jeju dialect, he said: “Grandfather, you’ve come home. Rest easy now.”

The Jeju 4.3 Peace Foundation identified the remains in a statement, stating Kim Sa-rim, of Iho Village, Jeju City, was 25 when he was captured by government suppression forces in February 1949 while living as a refugee on Mt. Halla, after which his family only received rumors that he had been transferred to a prison.

Yang Dal-hyo, a 26-year-old farmer in Doryeon Village, went missing in June 1948. His family learned he was detained at the Jeju Distillery detention camp. After they were able to visit him once, they lost contact with Yang Dal-hyo.

Kang Du-nam, of Yeongdon Village, 24, was last heard of around October 1948 while he was living as a refugee on Mt. Halla, and then imprisoned at Daejeon Prison around July 1949.

Im Tae-hoon, 20, of Sogil Village, was detained by police in December 1948 and was imprisoned in Mokpo before being transferred to Daegu Prison and then executed at the cobalt mine.

Song Du-seon, 29, of Donghong Village, was arrested by police in the spring of 1949 and imprisoned at Daegu Prison in July of that year.

Song Tae-woo, 17, of Ora Village, was detained by suppression forces while living as a refugee on Mt. Halla in November 1948. After that, there were only accounts of him having been thrown into the sea or killed at the airport.

Kang In-gyeong, 46, of Sangmyeong Village, was detained by police in June 1950 with the outbreak of the Korean War. It was believed that he was killed at an ammunition depot in southern Moseulpo, though he was among those excavated from Jeju International Airport.

The identification process involves matching DNA from the excavated bones with that taken from blood samples of Jeju residents. The foundation has told UPI that some 2,600 people have donated blood samples.

Not only blood samples from direct descendants but from collateral relatives can be used to identify remains, the Jeju 4.3 Peace Foundation said, as it encourages more people to participate in the program.

It said the blood samples from nephews were “decisive” in identifying victims Kim Sa-rim and Im Tae-hoon, as were blood samples from grandsons in identifying the other five victims.

“Jeju Province will continue to exert its utmost efforts to find even a single remaining victim and return them safely to the embrace of their families,” Gov. Oh said.

With the seven recently identified remains, a total of 154 Jeju victims have been identified from the 426 excavated sets of remains, including 147 within Jeju and seven on the mainland.

A new blood sampling drive is being held from Monday through Nov. 30 at Halla Hospital in Jeju City and Yeollin Hospital in Seogwipo City.

“I met my father yesterday for the first time in 79 years,” Yang Gye-chun, the son of the late Yang Dal-hyo said, according to a statement from the Jeju government.

The remains were cremated at Sejong Eunhasu Park on the mainland, before being returned to Jeju.

“I’ve lived without knowing where or how he died, and how glad I am to finally see his face today,” Yang said. “Now that he has come all the way back to his hometown of Jeju, I hope we may meet my mother in heaven and rest peacefully.”

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Blue House aides begin selling homes amid Lee anti-speculation push

South Korean President Lee Jae Myung speaks during a meeting with his senior secretaries at the presidential office Cheong Wa Dae in Seoul, South Korea, 29 January 2026. Photo by YONHAP / EPA

Feb. 3 (Asia Today) — Senior aides at South Korea’s presidential office have begun selling real estate holdings as President Lee Jae-myung intensifies his campaign to eradicate housing speculation.

Blue House spokesperson Kang Yu-jeong has listed her apartment in Giheung, Yongin, Gyeonggi Province, while Kim Sang-ho, head of the presidential press office, is selling six multi-unit houses in Seoul’s Daechi-dong neighborhood of Gangnam, a Blue House official said Tuesday.

Kang owns an apartment in Banpo-dong, Seocho District, under her spouse’s name, as well as the Yongin property under her own name. Kim jointly owns an apartment in Gui-dong, Gwangjin District, with his wife in addition to the Daechi-dong properties.

A Blue House official said Kang listed the Yongin apartment, where her parents live, and added that Kim had placed his Gangnam properties on the market some time ago.

As the two senior aides move to dispose of homes they do not reside in, attention is turning to whether similar action will follow among other high-ranking officials. Asset disclosures released earlier showed that 12 of 56 Blue House aides at the secretary level or higher own two or more properties.

President Lee has repeatedly emphasized his determination to stamp out real estate speculation since the start of the year. He has issued warnings on social media for four consecutive days, criticizing opposition parties and parts of the media while vowing to crack down on what he called “ruinous” speculative behavior.

Despite the recent sales, officials said Lee has not directly instructed aides to sell their properties.

During a Cabinet meeting Tuesday, Lee addressed criticism surrounding calls for public officials with multiple homes to sell first.

“I also think this is problematic,” Lee said. “If I tell them to sell and they do, it means the policy itself is ineffective.”

He added that the government’s goal is to create conditions that make holding multiple homes economically irrational. “We must make them conclude on their own that resolving multiple home ownership is in their interest,” he said.

Opposition pressure has also mounted. Reform New Party leader Lee Jun-seok said Monday he would directly ask ruling party lawmakers and government officials whether they plan to sell their properties by May 9.

“If they do not sell by then, the market will conclude that even policymakers themselves do not believe the policy will work,” he said.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260203010001235

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LIV Golf hits out despite being awarded world ranking points by OWGR amid ‘changing landscape’

LIV Golf has hit out at what it calls an “unprecedented” ruling that will see only the top 10 finishers at its events awarded world ranking points.

The Official World Golf Rankings (OWGR) board revealed on Tuesday its decision to award LIV players points for the first time.

However, while the Saudi Arabia-funded circuit, which starts its fifth season in Riyadh this week, has called the news a “long-overdue moment of recognition”, it is unhappy at the limits put on the rankings points for its 57-man fields.

In all 24 other men’s professional golf tours that are part of the OWGR, all players who make the cut earn points.

In a statement, LIV said “this outcome is unprecedented”, adding “no other competitive tour or league in OWGR history has been subjected to such a restriction”.

“Under these rules, a player finishing 11th in a LIV Golf event is treated the same as a player finishing 57th. Limiting points to only the top 10 finishers disproportionately harms players who consistently perform at a high level but finish just outside that threshold.”

In its statement, the OWGR board said it was awarding points to LIV “in an effort to reflect the changing landscape of the men’s professional game”.

However, it added that the points were being restricted to the top 10 finishers because it “recognises there are a number of areas where LIV Golf does not meet the eligibility standards set out by OWGR”.

The size of a LIV field, at 57, is well below the 75 set out in OWGR ranking criteria, while the lack of a cut was also a contributing factor.

LIV is evolving though, with each of its 14 events in 2026 being played over 72 holes, up from 54 in previous years.

“We expect this is merely a first step toward a structure that fully and fairly serves the players, the fans and the future of the sport,” added LIV in its statement.

“We entered this process in good faith and will continue to advocate for a ranking system that reflects performance over affiliation.

“The game deserves transparency. The fans deserve credibility. And the players deserve a system that treats them equally.”

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Spain announces plans to ban social media for childen under 16

Feb. 3 (UPI) — Spain announced it will ban social media for children younger than 16 and introduce measures that hold platforms and people accountable.

Spanish Prime Minister Pedro Sanchez spoke at the World Government Summit in Dubai, United Arab Emirates, and denounced social media companies’ misconduct. He said access for young teens will end next week as part of five new government measures against the platforms.

“Social media has become a failed state, a place where laws are ignored, and crime is endured, where disinformation is worth more than truth, and half of users suffer hate speech,” Sanchez said. “A failed state in which algorithms distort the public conversation and our data and image are defied and sold.”

He said, “platforms will be required to implement effective age-verification systems — not just checkboxes, but real barriers that work.”

“Today, our children are exposed to a space they were never meant to navigate alone: a space of addiction, abuse, pornography, manipulation and violence. We will no longer accept that. We will protect them from the digital wild west,” Sanchez said.

The first country to ban young teens from social media was Australia, which implemented its new law in December. There is also a measure in the French National Assembly to do the same. Greece, Denmark, Ireland and Great Britain are considering similar laws.

Spain hasn’t said which platforms will be subject to the new law. But during his speech, Sanchez criticized TikTok, X and Instagram.

Spain’s other measures include developing a “hate and polarization footprint,” which would track and quantify how platforms create division and magnify hate. Sanchez said the government will also hold social media executives criminally liable for failure to remove illegal or hateful content.

“We will turn algorithmic manipulation and amplification of illegal content into a new criminal offense,” he said in Dubai. “Spreading hate must come at a cost.”

Picketers hold signs outside at the entrance to Mount Sinai Hospital on Monday in New York City. Nearly 15,000 nurses across New York City are now on strike after no agreement was reached ahead of the deadline for contract negotiations. It is the largest nurses’ strike in NYC’s history. The hospital locations impacted by the strike include Mount Sinai Hospital, Mount Sinai Morningside, Mount Sinai West, Montefiore Hospital and New York Presbyterian Hospital. Photo by John Angelillo/UPI | License Photo

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Marius Borg Høiby, son of Norway’s princess, pleads not guilty to rape

Marius Borg Hoiby and Norwegian Crown Princess Mette-Marit attend a party in Oslo, Norway, in 2022. Hoiby pleaded not guilty to four counts of rape in his trial that began Tuesday. He faces 38 charges. File Photo by Lise Aserud/EPA

Feb. 3 (UPI) — Marius Borg Høiby, son of the crown princess of Norway, pleaded not guilty to four counts of rape in his trial that began Tuesday in an Oslo courtroom.

Høiby, 29, is facing 38 charges, including abuse in close relationships and filming women’s genitals without their knowledge. He pleaded guilty to some charges, including sexually offensive behavior, violation of a restraining order and some driving-related charges. He pleaded partially guilty to serious bodily harm, reckless behavior and violation of a restraining order.

“The defendant is the son of the crown princess. He is part of the royal family. He should still be treated equally like any other person charged with the same offenses. He should not be treated more severely or more leniently because of those with whom he is related,” lead prosecutor Sturla Henriksbø told the court.

“There is no requirement for a prosecution request from the victims,” he added. “It is society’s responsibility to prosecute serious crimes, regardless of whether the victim themselves wants it. In several of these cases, it is not the victim who has come to the police and said ‘I have been subjected to something criminal.'”

He was arrested again Sunday for alleged assault, making threats with a knife and violating a restraining order. Oslo police are keeping him in custody until March 2.

Høiby is not an official member of the royal family. His mother, Crown Princess Mette-Marit, married Crown Prince Haakon when Høiby was a young child.

Mette-Marit is facing her own troubles at the moment. Her name shows up more than 1,000 times in the latest dump of Epstein files, showing her close friendship with the late sex offender.

She is also suffering from pulmonary fibrosis and needs a lung transplant.

Picketers hold signs outside at the entrance to Mount Sinai Hospital on Monday in New York City. Nearly 15,000 nurses across New York City are now on strike after no agreement was reached ahead of the deadline for contract negotiations. It is the largest nurses’ strike in NYC’s history. The hospital locations impacted by the strike include Mount Sinai Hospital, Mount Sinai Morningside, Mount Sinai West, Montefiore Hospital and New York Presbyterian Hospital. Photo by John Angelillo/UPI | License Photo

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Which teams are in the T20 World Cup 2026, and what are their squads? | Cricket News

The 10th edition of the ICC Men’s Twenty20 World Cup gets under way on February 7, with 20 teams competing for the prize.

Defending champions India will be led by Suryakumar Yadav, who replaced Rohit Sharma as captain after he retired from the T20 format.

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The cohosts, alongside England and the West Indies, will be aiming to become the first country to win three T20 World Cup trophies.

Rashid Khan’s Afghanistan will look to emulate their performance from 2024, while Pakistan will hope their journey does not stop at the group stage.

Here are the 20 teams and their squads for the T20 World Cup:

Afghanistan

Rashid Khan (captain), Ibrahim Zadran, Rahmanullah Gurbaz (wicketkeeper), Mohammad Ishaq (wicketkeeper), Sediqullah Atal, Darwish Rasooli, Shahidullah Kamal, Azmatullah Omarzai, Gulbadin Naib, Mohammad Nabi, Noor Ahmad, Mujeeb Ur Rahman, Zia Ur Rahman Sharifi, Fazalhaq Farooqi, Abdullah Ahmadzai

Australia

Mitchell Marsh (captain), Xavier Bartlett, Cooper Connolly, Pat Cummins, Tim David, ‍Cameron Green, Nathan Ellis, Josh Hazlewood, Travis Head, Josh Inglis (wicketkeeper), Matthew Kuhnemann, Glenn Maxwell, Matthew Short, Marcus Stoinis, Adam Zampa

Canada

Dilpreet Bajwa (captain), Navneet Dhaliwal, Shreyas Movva (wicketkeeper), Ravinderpal Singh, Yuvraj Samra, Kanwarpal Tathgur, Ajayveer Hundal, Nicholas Kirton, Saad Bin Zafar, Shivam Sharma, Harsh Thaker, Dilon Heyliger, Kaleem Sana, Ansh Patel, Manjot Buttar

England

Harry Brook (captain), Rehan Ahmed, Jofra Archer, Tom Banton, Jacob Bethell, Jos Buttler (wicketkeeper), Sam Curran, Liam Dawson, Ben Duckett, Will Jacks, Jamie Overton, Adil Rashid, Phil Salt (captain), Josh Tongue, Luke Wood

India

Suryakumar Yadav (captain), Abhishek Sharma, Sanju Samson (wicketkeeper), Tilak Varma, Hardik Pandya, Shivam Dube, Axar ‍Patel, Rinku Singh, Jasprit Bumrah, Harshit Rana, Arshdeep Singh, Kuldeep Yadav, Varun Chakaravarthy, Washington Sundar, Ishan Kishan (wicketkeeper)

Ireland

Paul Stirling (captain), Ross Adair, Ben Calitz, Harry Tector, Tim Tector, Lorcan Tucker (wicketkeeper), Mark Adair, Curtis Campher, Gareth Delany, George Dockrell, Matthew Humphreys, Josh Little, Ben White, Barry McCarthy, Craig Young

Italy

Wayne Madsen (captain), Harry Manenti, Jon-Jon Trevor Smuts, Grant Stewart, Ben Manenti, Ali Hasan, Marcus Campopiano, Thomas Draca, Jaspreet Singh, Crishan Kalugamage, Gian-Piero Meade, Anthony Mosca, Justin Mosca, Syed Naqvi, Zain Ali

Namibia

Gerhard Erasmus (captain), Jan Balt, Zane Green (wicketkeeper), Malan Kruger, Dylan Leicher, Louren Steenkamp, Jan Frylinck, Jan Nicol Loftie-Eaton, Willem Myburgh, Johannes Jonathan Smit, Jack Brassell, Max Heingo, Bernard Scholtz, Ben Shikongo, Ruben Trumpelmann

Nepal

Rohit Paudel (captain), Aarif Sheikh, Aasif Sheikh (wicketkeeper), Dipendra Singh Airee, Basir Ahamad, Kushal Bhurtel, Sundeep Jora, Lokesh Bam, Gulshan Jha, Karan KC, Sompal Kami, Sandeep Lamichhane, Sher Malla, Lalit Rajbanshi, Nandan Yadav

Netherlands

Scott Edwards (captain, wicketkeeper), Noah Croes, Michael Levitt, Max O’Dowd, Colin Ackermann, Bas de Leede, Zach Lion-Cachet, Saqib Zulfiqar, Roelof van der Merwe, Aryan Dutt, Fred Klaassen, Kyle Klein, Logan van Beek, Tim van der Gugten, Paul van Meekeren

New Zealand

Mitchell Santner (captain), Finn Allen, Michael Bracewell, Mark Chapman, Devon Conway (wicketkeeper), Jacob Duffy, Lockie Ferguson, Matt Henry, Daryl Mitchell, Adam Milne, James Neesham, Glenn Phillips, Rachin Ravindra, Tim Seifert (wicketkeeper), Ish Sodhi

Oman

Jatinder Singh (captain), Hammad Mirza (wicketkeeper), Vinayak Shukla (wicketkeeper), Jay Odedra, Mohammad Nadeem, Nadeem Khan, Karan Sonavale, Wasim Ali, Hassnain Shah, Jiten Ramanandi, Shafiq Jan, Shah Faisal, Shakeel Ahmed, Sufyan Mehmood, Ashish Odedara

Pakistan

Salman Ali Agha (captain), Abrar Ahmed, Babar Azam, Faheem Ashraf, Fakhar Zaman, Khawaja Nafay (wicketkeeper), Mohammad Nawaz, Salman Mirza, Naseem Shah, Sahibzada Farhan, Saim Ayub, Shaheen Shah Afridi, Shadab Khan, Usman Khan (wicketkeeper), Usman Tariq

Scotland

Richie Berrington (captain), Tom Bruce, Matthew Cross (wicketkeeper), Michael Jones, Finlay McCreath, George Munsey, Michael Leask, Brendon McCullen, Brad Currie, Chris Greaves, Safyaan Sharif, Mark Watt, Brad Wheal, Oliver Davidson, Zainullah Ihsan

South Africa

Aiden Markram (captain), Corbin Bosch, Dewald Brevis, Quinton de Kock (wicketkeeper), Tony de Zorzi, Donovan Ferreira, Marco Jansen, George Linde, Keshav Maharaj, Kwena Maphaka, David Miller, Lungi Ngidi, Anrich Nortje, Kagiso Rabada, Jason Smith

Sri Lanka

Dasun Shanaka (captain), Pathum Nissanka, Kamil Mishara, Kusal Mendis (wicketkeeper), Kusal Janith Perera, Kamindu Mendis, Charith Asalanka, Janith Liyanage, Pavan Rathnayake, Wanindu Hasaranga, Dunith Wellalage, Maheesh Theekshana, Dushmantha Chameera, Matheesha Pathirana, Eshan Malinga

USA

Monank Patel (captain), Jessy Singh, Andries Gous (wicketkeeper), Shehan Jayasuriya, Milind Kumar, Shayan Jahangir, Saiteja Mukkamala, Sanjay Krishnamurthi, Harmeet Singh, Nosthush Kenjige, Shadley van Schalkwyk, Saurabh Netravalkar, Ali Khan, Mohammad Mohsin, Shubham Ranjane

Zimbabwe

Sikandar Raza (captain), Brian Bennett, Ryan Burl, Brendan Taylor (wicketkeeper), Graeme Cremer, Bradley Evans, Clive Madande (wicketkeeper), Tinotenda Maposa, Tadiwanashe Marumani, Wellington Masakadza, Tony Munyonga, Tashinga Musekiwa, Blessing Muzarabani, Dion Myers, Richard Ngarava

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Seoul stocks soar nearly 7 pct to fresh high on bargain hunting

The Korea Composite Stock Price Index, which reached a new high, is shown on a screen inside the dealing room of Hana Bank in central Seoul on Tuesday. Photo by Yonhap

South Korean stocks shot up by the most in six years Tuesday, rebounding from the previous session’s deep trough, as investors brushed off concerns over the newly nominated Federal Reserve chair and went bargain hunting. The Korean won also rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) climbed 338.41 points, or 6.84 percent, to close at a new high of 5,288.08, a sharp upturn from the previous day’s plummet.

It marked the steepest daily increase since March 24, 2020, when the index rose by 8.6 percent, according to data provided by the Korea Exchange (KRX), South Korea’s main bourse operator.

Trade volume was heavy at 666.5 million shares worth 29.3 trillion won (US$20.3 billion). Winners outnumbered losers 825 to 75.

Strong buying demand triggered the KRX to temporarily suspend stock purchases in early trading.

The temporary halt in trading, also known as a “sidecar” in Korea, came a day after the bourse operator issued a sidecar for sell orders, with the KOSPI plunging by more than 5 percent.

The last time when the KRX consecutively issued a sell-side and a buy-side sidecar was on April 7 and 8, following U.S. President Donald Trump‘s announcement of sweeping tariffs, Lee Kyoung-min, an analyst from Daishin Securities, said.

“As there was no change in the market’s fundamentals, the benchmark index recovered on bargain hunting,” he said.

On a similar note, JP Morgan raised its target for the KOSPI to a range of 6,000 to 7,500 in a report released Tuesday, citing strong delivery in other sectors, such as defense and shipbuilding.

Foreign and Institutional investors turned net buyers, scooping up 703.3 billion won and 2.2 trillion won of equities, respectively. Retail investors sold off a net 2.9 trillion won.

Large-cap shares ended higher across the board.

Market top-cap Samsung Electronics soared 11.37 percent to 167,500 won, while its rival SK hynix advanced 9.28 percent to 907,000 won.

Defense giant Hanwha Aerospace rose 4.84 percent to 1,299,000 won, top carmaker Hyundai Motor added 2.82 percent 491,500 won, and major financial group KB Financial closed up 3.81 percent to 138,800 won.

The local currency was quoted at 1,445.4 won against the greenback at 3:30 p.m., up 18.9 won from the previous session.

Copyright (c) Yonhap News Agency prohibits its content from being redistributed or reprinted without consent, and forbids the content from being learned and used by artificial intelligence systems.

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North Korea rehearses parade as party congress nears, report says

North Korean soldiers are rehearsing for a possible parade ahead of the country’s upcoming Ninth Party Congress, according to an analysis of satellite imagery by 38 North released Monday. This file photo shows an October military parade in Pyongyang’s Kim Il Sung Square. File Photo by KCNA/EPA

SEOUL, Feb. 3 (UPI) — Hundreds of North Korean soldiers were seen practicing marching formations in preparation for a possible military parade ahead of the country’s long-anticipated Ninth Party Congress, according to a new report.

Recent commercial satellite imagery shows large formations of troops conducting drills at the Mirim Parade Training Ground in east Pyongyang, analysts at the Stimson Center-based 38 North said in an assessment published Monday.

The activity is “likely in preparation for a parade to mark the upcoming Ninth Party Congress,” the report said.

Imagery shows soldiers arranging themselves into shapes resembling the hammer, sickle and brush, the emblem of the ruling Workers’ Party of Korea.

The party congress, held every five years, is where North Korea sets its domestic and foreign policy agenda. Leader Kim Jong Un is expected to unveil a new plan guiding political, economic and military priorities through 2031, the 38 North report noted.

While the official date for the Ninth Party Congress has not been announced, South Korean government officials and the National Intelligence Service have said they expect it to take place in early to mid-February.

Seoul’s Joint Chiefs of Staff said Tuesday it has detected signs of parade preparations at the Mirim Airfield and Kim Il Sung Square, where similar events have been held in the past.

“It’s not yet clear whether a military parade will take place,” JCS spokesman Col. Lee Sung-jun said in a press briefing. “As I understand, preparations are currently being made as a civilian event.”

The apparent parade preparations come amid a string of public appearances by Kim Jong Un that underscore the regime’s push to demonstrate progress ahead of the congress.

Last week, Kim attended the groundbreaking ceremony for a regional development project in Unnyul County, part of a broader effort to modernize local industry and infrastructure. He has also intensified on-site inspections, recently dismissing a vice premier over construction delays at a major machinery plant.

A report by the state-funded Korea Institute for National Unification said the firing suggests the regime may be under mounting pressure to show tangible economic results, as sanctions and chronic shortages continue to constrain growth.

Military signaling has remained prominent as well. In late January, Kim oversaw the test-firing of an upgraded large-caliber multiple rocket launcher system and said plans to further bolster the country’s nuclear deterrent would be detailed at the congress.

Against that backdrop, 38 North said the timing of the congress could be influenced by whether Pyongyang plans additional public events ahead of the gathering.

“If there are more economic projects to showcase or weapons to test before the Party Congress commences, the event could take longer to open,” the report said.

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UN envoy meets vice ministers in Lee administration during Korea visit

Elizabeth Salmon, the United Nations (UN) special rapporteur on the human rights situation in North Korea, speaks during her meeting with Unification Minister Kim Yung-ho (not pictured) during their meeting at the government complex in Seoul, South Korea, on 11 September 2023. File. Photo by YONHAP / EPA

Feb. 2 (Asia Today) — Elizabeth Salmon, the United Nations special rapporteur on human rights in North Korea, began a five-day visit to South Korea on Monday, meeting vice minister-level officials under the Lee Jae-myung administration, a shift from ministerial-level meetings held during the previous government.

The visit, which runs from Feb. 2 to 6, marks Salmon’s third official trip to South Korea since assuming the post and her first since September 2023.

During earlier visits in 2022 and 2023, Salmon met with ministers and vice ministers from the Ministry of Foreign Affairs and the Ministry of Unification, discussing broad cooperation on improving human rights conditions in North Korea. This time, her meetings with the South Korean government are limited to vice minister-level officials, reflecting differing policy approaches between the former Yoon Suk Yeol administration and the current Lee government.

The Foreign Ministry said Salmon met Monday with Vice Foreign Minister Kim Jin-ah to discuss the current state of North Korean human rights.

Kim praised the rapporteur’s efforts to raise international awareness of human rights abuses in North Korea and expressed hope that her work would contribute to tangible improvements for North Korean citizens. She also commended Salmon for focusing her report to the 61st session of the UN Human Rights Council on the Universal Periodic Review process and urged continued engagement.

Salmon said she would explore technical assistance to help North Korea implement recommendations it accepted through the review process and support efforts to promote dialogue and engagement.

She is scheduled to meet Vice Unification Minister Kim Nam-joong on Wednesday, as well as officials from other government bodies including the Ministry of Justice, according to officials.

During her first official visit in 2022, Salmon met with then Foreign Minister Park Jin, then Vice Foreign Minister Lee Do-hoon, Ambassador for International Cooperation on North Korean Human Rights Lee Shin-hwa, and then Unification Minister Kwon Young-se. On her second visit in 2023, she also met with former peace negotiations chief Kim Gun and former Unification Minister Kim Young-ho.

During this visit, Salmon is also meeting with North Korean human rights groups and defector organizations to hear their assessments and recommendations. She plans to hold a news conference on Thursday to outline the results of her trip.

Salmon will reflect the findings from the visit in her annual reports on North Korean human rights to the UN Human Rights Council in March and the UN General Assembly in September.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260202010000760

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Online shopping tops $188B as Korea’s retail divide widens

People crowd an indoor shopping mall in South Korea on 25 January 2026. Photo by YONHAP / EPA

Feb. 2 (Asia Today) — South Korea’s online shopping market surpassed 270 trillion won (about $188 billion) in 2025, hitting a record high and underscoring a growing divide between fast-growing digital platforms and stagnant offline retailers.

According to the “December 2025 and Annual Online Shopping Trends” released Monday by the National Data Service, online shopping transactions reached 272.3 trillion won (about $188 billion), up 4.9% from a year earlier. Mobile shopping accounted for 211.1 trillion won (about $145 billion), a 6.5% increase. Both figures were the highest since data collection began.

Online shopping growth has been fueled by the rapid expansion of mobile consumption and logistics innovations such as early-morning and same-day delivery. Transaction volumes rose from 94.1 trillion won (about $64.9 billion) in 2017 to more than 100 trillion won (about $68.9 billion) the following year, exceeded 200 trillion won (about $137.7 billion) in 2022 and continued climbing steadily into the 270-trillion-won range (about $188 billion) last year.

The strongest growth came from automobiles and auto-related products, which posted annual transactions of 7.5 trillion won (about $5.22 billion), up 30.5% year-on-year. The increase was driven largely by online sales of electric vehicles, particularly from Tesla, which operates a direct online ordering system. Tesla’s domestic sales reached 59,916 units in 2025, more than double the previous year’s total.

Food-related categories also expanded sharply. Online food service transactions rose 12.2% to 41.4 trillion won (about $28.6 billion), while online food and beverage purchases increased 9.5% to 37.8 trillion won (about $26.0 billion), reflecting consumers’ growing reliance on delivery platforms.

By contrast, offline retail channels showed little momentum. Data from the Ministry of Trade, Industry and Energy showed that sales at 26 major retailers rose 6.8% in 2025, but growth was heavily skewed toward online platforms. Online retail sales jumped 11.8%, while offline sales edged up just 0.4%.

Large supermarkets saw sales fall 4.2% from a year earlier, while convenience store sales grew only 0.1%, effectively stagnating. These sectors, closely tied to everyday household consumption, were hit hardest as shoppers shifted spending online.

Industry analysts attribute the decline to the rapid spread of mobile shopping and fast delivery services, which have reduced foot traffic and average transaction values at brick-and-mortar stores. The traditional “one-stop shopping” advantage of large supermarkets has weakened, while convenience stores have lost their proximity edge to quick-commerce and delivery platforms.

Rising fixed costs, including rent, labor and electricity, combined with weaker consumer demand amid high interest rates and inflation, are further eroding profitability. As a result, the gap between online and offline retail is increasingly seen as a structural shift rather than a temporary trend.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260202010000592

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Royal Caribbean projects on Mexico’s Caribbean coast draw fire

Royal Caribbean wants to construct two clubs in Mexico, which will could emulate this one that opened in December on Paradise Island in the Bahamas. Photo courtesy of Royal Caribbean

Feb. 2 (UPI) — A network of environmental organizations warned about environmental and social risks two megatourism projects promoted by Royal Caribbean could generate on the island of Cozumel and in the coastal town of Mahahual, and urged federal authorities to deny environmental permits for both.

The projects, known as Royal Beach Club in Cozumel and Perfect Day in Mahahual are under review by the Secretariat of Environment and Natural Resources after the company submitted its Environmental Impact Statements between December and January.

According to the organizations, both projects are based on a large-scale tourism model intended to concentrate massive flows of visitors over very short periods.

For Mahahual, a community of fewer than 3,000 residents, Royal Caribbean plans to receive more than 21,000 tourists per day, which the groups say would place disproportionate environmental pressure on fragile coastal ecosystems.

The warning came from Grupo Gema del Mayab, Selvame MX, Territorios Diversos para la Vida, the Mexican Civil Council for Sustainable Forestry, the Citizen Collective of Cozumel Island, the Salvemos Mahahual Collective, Alianza para la Defensa Ambiental A.C., Defendiendo el Derecho a un Medio Ambiente Sano A.C., Futuros Indígenas and Greenpeace México A.C.

The organizations argue that the Perfect Day megaproject poses a direct threat to the mangroves of Mahahual, considered key to coastal protection and ecological balance, as well as to species such as the jaguar and to sea turtle nesting areas.

They also warn of potential impacts on the Mexican Caribbean reef and restrictions on public access to beaches.

One of the issues described as “highly concerning” is that the company is allegedly promoting both projects as if they already had environmental authorizations, even though the administrative procedures have not been completed.

On Thursday, a District Court in Quintana Roo granted a provisional suspension as part of a lawsuit filed by Defendiendo el Derecho a un Medio Ambiente Sano A.C. against actions by municipal and state authorities that approved land-use changes on more than 264 acres in Mahahual for the Perfect Day project.

The organizations argue that the experience in northern Quintana Roo — in areas such as Cancun — shows that intensive tourism has caused irreversible environmental damage, de facto privatization of the coastline and economic benefits concentrated in a few actors, while local communities bear the social and ecological costs.

They stress that the projects cannot be evaluated in isolation, as the Yucatan Peninsula faces cumulative pressures stemming from accelerated urban growth, other large infrastructure projects and the effects of climate change.

The groups called on the secretariat to guarantee a “strict and transparent” environmental evaluation process, with effective participation by local communities and application of the precautionary principle established under Mexican law. They also requested that no project be authorized if it puts the natural heritage of the Mexican Caribbean and the Maya Forest at risk.

“The Maya Forest is not an amusement park,” the organizations said, insisting that the region must be prioritized for the country’s environmental and cultural conservation.

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Dodgers’ Edwin Díaz to pitch for Puerto Rico in World Baseball Classic

New Dodgers closer Edwin Díaz will pitch for Puerto in the World Baseball Classic in March, it was announced Monday.

Díaz, who signed a three-year, $69-million contract in December as the most sough-after reliever in free agency, pitched for Puerto Rico in the 2023 WBC but sufferd a right patellar tendon tear while celebrating a win over the Dominican Republic that pushed the team into the quarterfinals. He missed the entire 2023 MLB season as a result.

His announcement comes days after it was revealed Dodgers teammate Shohei Ohtani will not pitch in the WBC in order to focus on ramping up to pitch during the season without restrictions. Yoshinobu Yamamoto will pitch for Team Japan and catcher Will Smith and recently-retired left-hander Clayton Kershaw will be on the Team USA roster.

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Politics behind Pakistan’s boycott of India T20 World Cup game, experts say | ICC Men’s T20 World Cup News

Pakistan’s decision to boycott their T20 World Cup game against India has been termed a political move, with cricketers and politicians in both countries and around the world urging the International Cricket Council (ICC) to resolve the dispute.

The Pakistani government on Sunday issued a statement saying its men’s cricket team will participate in the global tournament but will not take the field in the match against archrivals India on February 15.

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In a swift response, the ICC was critical of Pakistan’s move of “selective participation” and asked the Pakistan Cricket Board (PCB) to consider the “significant and long-term implications” of its decision.

A decades-old political rift between the two nuclear-armed countries is blamed for their frosty sporting ties.

Pakistan was carved out of India in 1947, resulting in a bloody division of the subcontinent by the colonial British. Over the past 78 years, the nations have fought four wars, exchanged countless skirmishes and remained at odds primarily over the disputed Kashmir region that both claim in entirety but administer parts of.

The South Asian archrivals returned from the brink of an all-out war in May, when both countries clashed at their shared border before an internationally-brokered ceasefire.

An official of the Board of Control for Cricket in India (BCCI) has supported the ICC’s statement asking Pakistan to reconsider the move.

“The ICC has issued a big statement, they have spoken about sportsmanship,” BCCI’s Vice President Rajeev Shukla told the ANI news agency in India.

“We completely agree with the ICC. BCCI won’t make any comments on it until we speak with the ICC.”

However, former cricketers and politicians have called upon the ICC to act as a mediator between both countries’ cricket boards.

“Cricket can open doors when politics closes them,” former Pakistan captain Shahid Afridi wrote on X.

He urged the ICC to “lead and prove through decisions, not statements, that it is impartial, independent and fair to every member.”

‘Sport has been politicised’

Prominent Indian politician Shashi Tharoor was critical of the politicisation of cricket, and slammed the BCCI’s decision to expel Bangladeshi fast bowler Mustafizur Rahman from the Indian Premier League in January.

“It is pretty disgraceful that sport has been politicised in this way on both sides,” he told reporters in New Delhi.

“I don’t think that Mustafizur should have been denied his contract to play in Kolkata. It was most unfortunate. [An] intrusion of politics. I think the Bangladeshi reaction was an overreaction, but it is also a reflection of the same, and Pakistan is trying to show its solidarity with Bangladesh. ”

Tharoor, who is a member of India’s main opposition party, said the situation was “spiralling out of control”.

“Sports, especially a sport like cricket which means so much to all the people, should be a means of bringing us together at least on the playing field, rather than allowing this to go on like this,” he said.

The 69-year-old, who is also an author of several books on history and politics, called on the ICC to help mend the ties.

“This is now a wake-up call for all concerned to contact each other on an emergency basis. The ICC could be the platform for it. Just say, ‘Let’s call off this nonsense’. You can’t go on like this forever.”

Pakistan’s decision, which came six days before the start of the World Cup, has cast a shadow on the marquee fixture of the group stage.

India and Pakistan were scheduled to play in Colombo on February 15 in a game that attracts millions of viewers from across the world and is seen as a major revenue-generating fixture for the tournament’s organisers and sponsors.

Outspoken former Pakistan captain Rashid Latif said Pakistan could face sanctions from the ICC, but such a move would be hypocritical as teams have boycotted games at previous World Cups.

“Where was ICC when Australia and West Indies forfeited their matches in 1996; England refusing to travel to Harare and New Zealand to Nairobi in 2003,” he said on X.

Latif, who played 37 Tests and 166 one-day internationals (ODIs), feared that Pakistan may be sanctioned by the ICC.

“They [Pakistan] don’t seem to care about it,” he said.

‘Would Pakistan refuse to play the final?’

Should Pakistan keep their word and boycott the group game, they will forfeit two points, which could have an impact on their standings in Group A.

Pakistan and India could meet again in the tournament, in the final on March 8, but with the multiple stages of progress between the group game and the final, it is unclear how that match would pan out.

Former England captain Kevin Pietersen questioned whether Pakistan would boycott the tournament decider as well.

“Would Pakistan refuse to play the World Cup final?” he asked.

Cricketers from across the border condemned Pakistan’s boycott of the game.

“This isn’t about guts at all, this is about foolishness,” Madan Lal, a former Test cricketer and coach, told Indian media.

“Because Pakistan wants to show India down, that’s why they’re taking all these decisions. That’s the reason their growth isn’t happening, either. If you keep looking at others, what will you do for your own growth?”

Indian cricket writer and commentator Harsha Bhogle said the boycott could deal a financial blow to Pakistan cricket.

“If there is an inevitable reduction in the ICC’s revenue caused by Pakistan’s forfeit and future uncertainty, the least affected countries, given other strong sources of revenue, will be India, Australia and England,” he said in a social media post.

“The most affected will be those completely reliant on revenues from the ICC; not just the smaller and associate nations but also the West Indies, Sri Lanka, Bangladesh and…… Pakistan!”

Pakistan will open their T20 World Cup campaign on the opening day, February 7, against the Netherlands in Colombo.

The 2009 champions will play all their games, including any Super 8 fixtures and knockouts, in Sri Lanka.

This follows an ICC-brokered agreement between the PCB and the BCCI in December 2024 that allows both teams to play their games at a neutral venue when the neighbour hosts an ICC event.

Pakistan’s remaining Group A fixtures are against the United States on February 10 and against Namibia on February 18.

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Hana Financial Group Seeks ‘Balanced Growth’ With Non-Bank Turnaround

South Korean man walks in front of the Hana Financial Group headquarters in Seoul, South Korea, 23 November 2010. Hana Financial Group said on 1 February 2026 it will accelerate efforts to boost performance at its non-bank affiliates year 2026, marking a pivotal shift toward more balanced growth as its banking unit continues to dominate earnings. File. Photo by JEON HEON-KYUN / EPA

Feb. 1 (Asia Today) — Hana Financial Group said Sunday it will accelerate efforts to boost performance at its non-bank affiliates this year, marking a pivotal shift toward more balanced growth as its banking unit continues to dominate earnings.

Last year the group posted a record net profit of 4 trillion won (about $2.9 billion), up 7.1% from a year earlier, driven primarily by strong results at Hana Bank. But performance at securities, insurance and card units lagged, dragging the non-bank contribution to overall profit down to about 12% from nearly 16% the previous year.

“We expect the normalization of performance for the group’s non-bank subsidiaries to begin in earnest starting this year,” the group said, calling 2026 the first year of “non-bank normalization.”

Under Chairman Ham Young-joo, Hana has set a target of raising non-bank profit share to 30% by 2027. But with the sector’s recent weak showing, he has emphasized to employees that “the non-banking sector cannot continue as it is.”

Hana Securities saw net profit fall nearly 6% last year to 212 billion won (about $147 million), while Hana Card’s profit slipped about 2% to 217.7 billion won (about $151 million). Hana Insurance’s deficit widened to 47 billion won. Hana Life Insurance did return to profit, posting 15.2 billion won (about $32.5 million) after a 7 billion won loss (about $4.8 million) the prior year, but its contribution remains limited.

To strengthen non-bank performance this year, the group said it is laying groundwork to secure profitability-focused growth engines and improve asset quality. Chairman Ham said non-bank results will be “key to improving the group’s return on equity,” projecting an 11-12% ROE if sufficient returns can be generated relative to capital.

Moves already under way include a newly launched commercial paper issue by Hana Securities, laying the foundation for broader venture capital supply, and plans to contribute about 18 trillion won (about $12.44 billion) this year to productive finance, including direct corporate investments.

Hana Card is also poised to play a role in a planned stablecoin consortium, with its distribution and payment functions seen as essential to linking stablecoins with the real economy. Last year, the card unit signed agreements with partners including EQBR and TravelWallet to explore stablecoin-based payment and settlement services.

In the insurance sector, the group is exploring acquisitions to build scale. It participated in due diligence for Lotte Insurance and recently submitted a letter of intent to acquire Yebyeol Insurance, potentially expanding its insurance portfolio.

A financial industry insider said Hana’s push to create synergies across its wealth management and capital markets divisions could help its non-bank units evolve into top-tier players – a shift that could help lift group net profit beyond the 5 trillion won (about $3.46 billion) mark over time.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260202010000254

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Seoul stocks dip over 5 pct on Fed chair nomination, drop in gold prices

The closing benchmark Korea Composite Stock Price Index is seen on a screen inside the dealing room of Hana Bank in central Seoul on Monday. Photo by Yonhap

South Korean stocks nosedived by more than 5 percent Monday, due largely to a risk-averse sentiment following the nomination of the new Federal Reserve chair, and a sharp decline in silver and gold prices. The Korean won plunged against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) tumbled 274.69 points, or 5.26 percent, to close at 4,949.67, snapping a four-session winning streak.

The country’s main bourse operator, the Korea Exchange (KRX), issued a sell-side circuit breaker for 5 minutes around noon.

Trade volume was heavy at 568.8 million shares worth 32 trillion won (US$21.9 billion). Losers outnumbered winners 795 to 116.

Foreign and institutional investors offloaded a net 2.5 trillion won and 2.2 trillion won, respectively. Retail investors, on the other hand, went bargain hunting and snapped up a net 4.6 trillion won.

Local stocks came under selling pressure following the nomination of Kevin Warsh, seen widely as a hawkish figure, as Fed chair, and sharp declines in silver and gold prices, according to Lee Kyoung-min, an analyst from Daishin Securities.

“A sharp drop in precious metals triggered the liquidation and margin call of derivatives holding them. This in turn led to the forced liquidation of other assets, as investors went to preserve margins, further amplifying the stock market’s decline,” Lee said.

International gold prices have experienced a sharp decline of over 10 percent in the past few days, while sliver prices plunged over 30 percent.

The local gold market was affected, too, with gold traded on the KRX falling to its lowest permissible limit of 10 percent Monday. It marked the first time KRX gold prices fell to the floor since the market opened in March 2014, according to the bourse operator.

“There is a possibility the benchmark KOSPI could take a breather, considering its sharp gains recently, but a daily decline of 4 to 5 percent seems excessive,” Han Ji-young, a researcher at Kiwoom Securities, said.

Shares closed lower across the board.

Market top-cap Samsung Electronics declined 6.29 percent to 150,400 won, while its chipmaking rival SK hynix tumbled 8.69 percent to 830,000 won.

Top car marker Hyundai Motor retreated 4.4 percent to 478,000 won, bio firm Celltrion lost 3.33 percent to 203,000 won, and defense giant Hanwha Aerospace closed down 4.69 percent to 1,239,000 won.

Financial shares were among the few winners.

Hana Financial Group added 3.2 percent to 103,300 won, and Meritz Financial Group inched up 0.69 percent to 117,400 won.

The Korean won was quoted at 1,464.3 won against the U.S. dollar at 3:30 p.m., down 24.8 won from the previous session.

Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys rose 1.4 basis points to 3.152 percent, and the return on the benchmark five-year government bonds rose 1.2 basis points to 3.448 percent.

Copyright (c) Yonhap News Agency prohibits its content from being redistributed or reprinted without consent, and forbids the content from being learned and used by artificial intelligence systems.

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Mexico to send humanitarian aid to Cuba amid Havana-Washington tensions

Mexican President Claudia Sheinbaum, seen speaking in a November 2024 press conference, announced on Sunday plans to send humanitarian aid to Cuba. File Photo by Isaac Esquivel/EPA-EFE

Feb. 2 (UPI) — President Claudia Sheinbaum of Mexico announced over the weekend plans to send humanitarian aid to Cuba amid rising tensions between Havana and Washington.

Since President Donald Trump oversaw last month’s U.S. military seizure of Venezuela’s authoritarian leader, Nicolas Maduro, he has focused on Cuba, warning that the nation is on the precipice of failing. Last week, Trump declared a national emergency in relation to Cuba and announced a mechanism to impose sanctions against any nation that provides the island nation with oil.

In the southwestern city of Guaymas, Sonora, on Sunday, Sheinbaum said Mexico plans to send food, household goods and essential supplies to Cuba through the Secretariat of the Navy while seeking to address the shipment of oil to the Caribbean island via “diplomatic channels,” according to a readout from her office.

“We are already doing all the work necessary to send humanitarian aid that the Cuban people need — other household items and supplies,” Sheinbaum said.

“That is important.”

Commenting on whether she has addressed Trump about the issue of shipping Mexican oil to Cuba, Sheinbaum said her secretary of Foreign Affairs, Juan Ramon de la Fuente, has discussed it with his American counterpart, Secretary of State Marco Rubio.

“And as I’ve said, we are exploring all diplomatic avenues to be able to send fuel to the Cuban people, because this is not a matter of governments but of support to prevent a humanitarian crisis in Cuba,” she said.

“In the meantime, we will send food and other important aid to the island.”

Mexico is an important supplier of fuel to Cuba, and even more so since the Trump administration cut off oil Venezuelan oil exports.

Last week, Sheinbaum paused oil shipments to Cuba, but said it was “a sovereign decision.”

Trump and Sheinbaum spoke on the phone for about 40 minutes Thursday and had what the American president called “a very productive conversation” about border-related issues, drug trafficking and trade.

On Thursday night, Trump declared a national emergency in relation to Cuba and the threat of tariffs, heightening uncertainty over Washington’s next steps toward the socialist island nation.

Sheinbaum was reportedly taken by surprise by this announcement, telling reporters during a Friday press conference that “We did not touch on the topic of Cuba,” directing her secretary of Foreign Affairs to get more information from the U.S. State Department.

“The imposition of tariffs on countries that provide oil to Cuba could create a far-reaching humanitarian crisis.”

The United States already enforces a decades-old embargo against Cuba that restricts most industries, while secondary sanctions penalize foreign companies that do business with Havana.

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Russian drone strike on civilian bus kills 12 miners

Feb. 2 (UPI) — A Russian drone strike in Ukraine’s southeastern Dnipropetrovsk region has killed at least 12 miners and injured eight more, according to officials who are accusing the Kremlin of attacking unarmed civilians.

DTEK Group, Ukraine’s largest private energy company, said a Russian drone struck a bus transporting staff from its Dnipropetrovsk mine, resulting in at least 20 casualties.

“The bus was hit as it was taking miners home after their shift,” the company said in a statement.

The strike was part of a large-scale Russian assault on DTEK’s mining facilities in the region, the company said as it extended its condolences to the families and loved ones of those killed.

Maxim Teimchenko, CEO of DTEK, accused Russia of conducting “an unprovoked terrorist attack on a purely civilian target.”

“This attack marks the single largest loss of life of DTEK employees since russia’s full-scale invasion and is one of the darkest days in our history,” he said.

“Their sacrifice will never be forgotten.”

Serhii Berskresnov, a Ukraine Defense Ministry adviser, identified the weapon used in the attack on Telegram as an Iran-made Shahed drone.

Using a MESH radio modem, the drone pilot deliberately attacked the bus after spotting it on the road, he said.

The drone struck near the bus, with its blast wave forcing the driver to lose control and crash into a fence, he said, adding that as the injured were exiting the vehicle, a second Shahed drone struck.

“The operators operating from the territory of Russia 100% saw and identified the target as civilian, saw they were not military and made a conscious decision to attack,” he said.

“This is yet another act of terrorism. I have no words.”

Russia has been widely accused of committing war crimes in its nearly 3-year-old war in Ukraine. From indiscriminate attacks on civilians to executions, torture and forced deportations, Russia has been repeatedly denounced for alleged war crimes that it denies.

The International Criminal Court has formally opened a war crimes and crimes against humanity investigation into Russia’s invasion of Ukraine and has issued arrest warrants for Russian officials, including its authoritarian president, Vladimir Putin.

The strike was one of numerous Russian attacks across Ukraine on Sunday, with Ukrainian President Volodymyr Zelensky stating on X that people throughout the country were without heat and electricity. Railway infrastructure was hit in the Sumy region, he said.

During the month of January, Russia launched more than 6,000 attack drones, 5,550 guided aerial bombs and 158 missiles at Ukraine, Zelensky said.

“Virtually all of it targeted the energy sector, the railways and our infrastructure — everything that sustains normal life.”

On Saturday, Russia bombed a maternity hospital in Ukraine’s southern city of Zaporizhzhia, injuring six people, according to Prime Minister Yulia Svydenko.

“This is the nature of Russia’s war,” she said.

The attacks occurred during a cold February that has seen the temperatures drop well below freezing, according to the country’s hydrometeorological center.

The strikes come despite U.S. President Donald Trump stating last week that Putin promised him that Russia would refrain from hitting Ukraine for a week.

“I personally asked President Putin not to fire into Kyiv and the various towns for a week, and he agreed to that,” he said during a cabinet meeting without making clear which towns, cities and regions that the Russian leader had agreed not to attack.

“We’re very happy that they did it.”

Trump has been pushing since before he returned to office to end the war, which he vowed to do during his first 24 hours back in the White House.

Zelensky confirmed Sunday that dates for the next trilateral meetings for a cease-fire between the United States and Russia have been set for Wednesday and Thursday in Abu Dhabi.

“Ukraine is ready for a substantive discussion, and we are interested in ensuring that the outcome brings us closer to a real and dignified end to the war,” he said.



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Coupang interim CEO questioned for 12 hours over data leak probe

Harold Rogers, interim CEO of Coupang Corp., arrives at the Seoul Metropolitan Police Agency’s headquarters in Seoul, South Korea, 30 January 2026. Rogers is to be questioned about allegations of evidence destruction in connection to a massive data breach at the company. File. Photo by YONHAP / EPA

Jan. 31 (Asia Today) — Harold Rogers, interim chief executive of Coupang Korea, was questioned for more than 12 hours by police over allegations that the company destroyed evidence during an internal probe into a massive personal data leak.

Rogers arrived at the Seoul Metropolitan Police Agency at about 2 p.m. Thursday and left around 2:22 a.m. Friday. He declined to answer reporters’ questions, including whether he acknowledged the evidence destruction allegations, how the company determined that about 3,000 users were affected, and why he had not appeared for questioning earlier.

Before entering police headquarters, Rogers said Coupang had “fully cooperated with all government investigations and will continue to do so,” adding that the company would also cooperate with the police probe.

Police are investigating whether Coupang conducted an unauthorized “self-investigation” after the data breach and destroyed evidence in the process. The company allegedly analyzed a suspect’s laptop without prior consultation with authorities and publicly announced its own findings, including the estimated scope of the leak.

Investigators reportedly questioned Rogers about Coupang’s actions, including allegedly contacting the data leak suspect in China without police knowledge, retrieving the laptop, and conducting forensic analysis independently.

Attention has also focused on whether Rogers will leave South Korea. Police applied for a travel ban against him after his entry on Jan. 21, but prosecutors rejected the request. Rogers previously left the country earlier this month after completing a two-day schedule of National Assembly hearings.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260131010014003

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Korea-U.S. tariff talks stall as automakers speed U.S. investment

Kim Jeong-kwan, South Korea’s minister of trade, industry and energy, speaks to reporters upon arrival at Incheon International Airport after returning from tariff talks in Washington. Photo by Yonhap News Agency

Feb. 1 (Asia Today) — South Korea’s efforts to head off a proposed 25% U.S. tariff increase stalled after trade talks in Washington ended without agreement, prompting the auto industry to accelerate investment plans in the United States.

Trade, Industry and Energy Minister Kim Jeong-kwan returned to South Korea after two days of discussions with U.S. Commerce Secretary Howard Lutnick on President Donald Trump’s proposed reciprocal tariff hike. The talks, held Wednesday and Thursday in Washington, concluded without concrete results, the ministry said.

During the meetings, Kim stressed that South Korean companies were prepared to expand U.S. investment and said the government was coordinating with the National Assembly to swiftly pass a special law aimed at supporting large-scale Korean investment in the United States.

The proposed legislation is intended to reduce uncertainty for Korean firms and institutionalize strategic economic cooperation between the two countries. Seoul argued that the bill would boost U.S. job creation and economic growth.

U.S. officials, however, reportedly questioned whether the Korean government’s position would translate into concrete action, signaling that legislative intent alone would not be sufficient.

The stalled talks have heightened concerns in South Korea’s auto industry. Hyundai Motor Group, a major exporter to the U.S., is expected to adjust its existing investment strategy to accelerate the pace of spending.

Hyundai Motor President José Muñoz told The Wall Street Journal on Friday that he believes President Trump understands Hyundai’s commitment to the U.S. market and said the company is focused on speeding up its investment plans.

Hyundai previously announced plans to invest $26 billion (about 37.7 trillion won) in the United States by 2030, with a goal of locally producing 80% of the vehicles it sells there.

Industry analysts expect uncertainty surrounding the proposed tariff hike to continue until at least mid-March, as South Korea’s National Assembly plans to process the U.S. investment bill in late February or early March.

Democratic Party policy chief Han Jeong-ae said the bill would first be reviewed by the National Assembly’s finance and economy committee, adding that passage is likely within that timeframe.

The Trump administration has previously indicated it would not discuss tariff reductions until the legislation is approved, suggesting that negotiations on easing the proposed 25% tariff may resume only after the bill’s passage.

Some experts described the tariff threat as a temporary pressure tactic. Kim Pil-soo, a professor of automotive engineering at Daelim University, said the move appears aimed at showcasing policy achievements ahead of U.S. midterm elections, adding that continued investment and passage of the bill could eventually lead to a resolution.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260201010000191

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Luke Littler beats Luke Humphries 6-5 to win World Masters title

Luke Littler won the World Masters for the first time and became the joint-third most successful player in PDC history with a 6-5 win over Luke Humphries.

The teenager now has 11 major PDC titles, leaving him level with James Wade and behind only Michael van Gerwen (48) and Phil Taylor (79).

The win for Littler, which followed on from beating Gerwyn Price 5-4 in a terrific match in the semi-finals, has left the European Championship as the only major television PDC title still to be won by the two-time world champion.

A high-quality finale saw 25 maximums thrown as the lead changed hands multiple times before Littler eventually nailed his favourite double 10 to seal the £100,000 first prize.

After a semi-final that saw Price miss a match dart, Littler upped his level from the start. A stunning 153 checkout laid down the gauntlet to Humphries, but the world number two came into the final having beaten Gian van Veen 5-0 in the last four and continued in that form by winning the opening set.

Littler, who averaged 104.72 to Humphries’ 105.51 in the final, then powered into a 3-1 lead, hitting a 121 finish along the way. But Humphries did not want to concede the title he won last year and levelled the match.

With the score at 3-1 to the world champion, Humphries rallied with 10 and 13-dart legs on his way to levelling the match.

Littler missed three darts to move into a 5-3 lead and Humphries capitalised to level again before hitting his first 100-plus checkout on his way to moving one set away from another title.

But Littler was not done there. The 19-year-old reeled off legs in 13 and then 12 darts to force a deciding set.

A break of throw in the first leg of the deciding set gave Littler control and he did not let it slip. One dart at double 10 was all he needed to land his first World Masters title.

All four of the semi-finalists will be back in action when the 2026 Premier League starts in Newcastle on Thursday.

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